Premier Income

Our Premier Income products are exclusively designed for borrowers with an income of £150,000 or more.

They’re available for loans between £1m and £5m for a House Purchase or Remortgage, and between £1m and £4m for Self Build projects.

Premier Income mortgages have no maximum Loan to Income; they assessed purely on applicants’ affordability and their individual circumstances.

Residential Premier Income

• Maximum 80% LTV
• Minimum age 21
• Interest only or repayment
• Interest only to 70% max LTV and subject to an acceptable repayment strategy
• Minimum Income £150,000*
• No maximum LTI, subject to affordability
• Minimum loan size £1,000,000
• Maximum loan size £5,000,000
• Loans over this are priced on a bespoke basis and have restricted LTVs

*May be accessed by customers with lower incomes, subject to relevant LTI restrictions and affordability. 

Self Build Large Loan Tiers

Our Self Build range has loan tiers to support self-builders who require a loan size of up to £4,000,000 to fund their project. Anything above this figure will be assessed on a case-by-case basis and bespoked. LTVs and terms all match our standard self build products, in addition to the criteria below.

Dedicated Premier Income products allow for greater borrowing power, with no maximum loan to income, subject to affordability assessment

Self Build Premier Income £1-2m

• Minimum age 21
• Minimum term 5 Years
• Maximum term 40 Years
• Owner Occupied only
• Minimum Income £150,000
• Minimum loan size: £1,000,000.01
• Maximum loan size: £2,000,000. Loans over this are supported by additional loan tiers.
• Interest only or repayment
• Interest only subject to meeting lending policy and having an acceptable repayment strategy. If taken for the full term of the mortgage, available to a maximum 70% GDV
• If the mortgage is taken out on a repayment basis, interest only is available for the build period up to a maximum of 24 months. You must explain the consequences of this to your client and evidence this in your suitability letter
• Available for custom-build
• Available for first time buyers
• Loan must be fully serviced by applicants’ income
• Outline planning permission at decision in principle
• Full planning permission needed before going to valuation
• Full breakdown of works together with costings and architectural drawings required
• Funds can be drawn down in flexible stage payments to suit the clients’ needs (no more than one drawdown per month) subject to re-inspection. Re-inspection fees can be found on our website. The flexible stage payments will be taken in arrears.
• Retained funds must be drawn within the first 24 months or will be removed from the loan
• For variants with an ERC, if the build completes before the 24-month term, we will waive the ERC in instances where the borrower switches into a Saffron retention product.
• When providing a full breakdown of works together with costings and architectural drawings, a minimum contingency of 5% must be shown within the costings
• We reserve the right to instruct that a Quantity Surveyor be appointed. The customer would be responsible for appointing the Quantity Surveyor, covering all the costs involved and would also be required to provide the Society with copies of the interim reports from the Quantity Surveyor at each drawdown request
• A progress report and/or quantity surveyor report will be required at each drawdown before funds will be released
• We reserve the right, over the life of the project, to appoint an industry professional, at the customer’s cost, to manage and oversee the completion of the project
• A new home warranty/certificate is required from one of the following:
  • Compariqo
  • BW Build Warranty Group
  • CADIS
  • NHBC
  • LABC
  • Premier Guarantee
  • ICW Limited
  • Buildzone
  • Castle 10/ Checkmate
  • Buildassure
  • One Guarantee
  • Global Home Warranties
  • Q Assure
  • Protek
  • Advantage HCI
  • Ark Residential Insurance
  • ABC+ Warranties

Self Build Premier Income £2-4m

• Minimum age 21
• Minimum term 5 Years
• Maximum term 40 Years
• Owner Occupied only
• Minimum Income £150,000
• Minimum loan size: £2,000,000.01
• Maximum loan size: £4,000,000. Loans over this can be assessed on a case-by-case basis and bespoked
• Interest only or repayment
• Interest only subject to meeting lending policy and having an acceptable repayment strategy. If taken for the full term of the mortgage, available to a maximum 70% GDV
• If the mortgage is taken out on a repayment basis, interest only is available for the build period up to a maximum of 24 months. You must explain the consequences of this to your client and evidence this in your suitability letter
• Available for custom-build
• Available for first time buyers
• Loan must be fully serviced by applicants’ income
• Outline planning permission at decision in principle
• Full planning permission needed before going to valuation
• Full breakdown of works together with costings and architectural drawings required
• Funds can be drawn down in flexible stage payments to suit the clients’ needs (no more than one drawdown per month) subject to re-inspection. Re-inspection fees can be found on our website. The flexible stage payments will be taken in arrears.
• Retained funds must be drawn within the first 24 months or will be removed from the loan
• For variants with an ERC, if the build completes before the 24-month term, we will waive the ERC in instances where the borrower switches into a Saffron retention product.
• When providing a full breakdown of works together with costings and architectural drawings, a minimum contingency of 5% must be shown within the costings
• We reserve the right to instruct that a Quantity Surveyor be appointed. The customer would be responsible for appointing the Quantity Surveyor, covering all the costs involved and would also be required to provide the Society with copies of the interim reports from the Quantity Surveyor at each drawdown request
• A progress report and/or quantity surveyor report will be required at each drawdown before funds will be released
• We reserve the right, over the life of the project, to appoint an industry professional, at the customer’s cost, to manage and oversee the completion of the project
• A new home warranty/certificate is required from one of the following:
  • Compariqo
  • BW Build Warranty Group
  • CADIS
  • NHBC
  • LABC
  • Premier Guarantee
  • ICW Limited
  • Buildzone
  • Castle 10/ Checkmate
  • Buildassure
  • One Guarantee
  • Global Home Warranties
  • Q Assure
  • Protek
  • Advantage HCI
  • Ark Residential Insurance
  • ABC+ Warranties